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AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Partners Life Limited

AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Partners Life Limited
apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.

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AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of BNZ Life Insurance Limited

AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of BNZ Life Insurance Limited
apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.

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AM Best Places Credit Ratings of BNZ Life Insurance Limited Under Review With Negative Implications

Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Places Credit Ratings of BNZ Life Insurance Limited Under Review With Negative Implications
December 18, 2020 GMT
SINGAPORE (BUSINESS WIRE) Dec 18, 2020
AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of BNZ Life Insurance Limited (BNZ Life) (New Zealand).
These Credit Rating (rating) actions follow the announcement on 16 December 2020, that National Australia Bank Limited, BNZ Life’s ultimate parent, has entered into an agreement to sell its New Zealand life insurance business, including BNZ Life, to Partners Life Limited (Partners Life). The transaction also includes the establishment of an exclusive 10-year agreement for the referral of Bank of New Zealand customers with life insurance needs to Partners Life. The total transaction consideration is N ....

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AM Best Places Credit Ratings of BNZ Life Insurance Limited Under Review With Negative Implications

AM Best Places Credit Ratings of BNZ Life Insurance Limited Under Review With Negative Implications
businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.

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AM Best Places Credit Ratings of Partners Life Limited Under Review With Developing Implications - Press Release

AM Best Places Credit Ratings of Partners Life Limited Under Review With Developing Implications
SINGAPORE (Business Wire)
AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Partners Life Limited (Partners Life) (New Zealand).
These Credit Rating (rating) actions follow the announcement on 16 December 2020, that Partners Life has entered into an agreement with National Australia Bank Limited to acquire its New Zealand life insurance business, including BNZ Life Insurance Limited. The transaction also includes the establishment of an exclusive 10-year agreement for the referral of Bank of New Zealand customers with life insurance needs to Partners Life. The total transaction consideration is NZD 290 million (USD 208 million). The transaction, which is subject to customary closing conditions, including regulatory and other approvals, is expected to be comple ....

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